550 Highway 7 E #281-283, Richmond Hill

Commercial Property in Richmond Hill

Unit 281-283 at 550 Highway 7 East

Prime second-floor commercial space available at one of Richmond Hill's most prominent mixed-use addresses along the Highway 7 corridor. This 3,527 sq ft unit is currently built out as a restaurant and café, featuring an existing commercial kitchen infrastructure, dining area, and customer-facing layout - offering significant savings on leasehold improvements for food and beverage operators looking to hit the ground running. The space is currently tenanted with vacant possession available, providing flexibility for incoming occupants to take over a fully operational setup or reimagine the footprint for their concept. Situated within a high-traffic, established retail and commercial node, 550 Highway 7 E benefits from exceptional visibility, strong daytime and evening foot traffic, and a dense surrounding residential and professional population. The building is easily accessible by transit and offers ample surface and structured parking for customers and staff.

Richmond Hill retail priced at $1,299,900 — book a tour to see if it fits your search.

Inside 550 Highway 7 E #281-283

Every detail from the listing, in one place.

Type: Retail
Lot size: 0.00 x 0.00 Feet

Features & systems

Lot & land

Lot dimensions: 0.00 x 0.00 Feet
Lot size (sqft): 0

Listing & possession

Property class: Commercial Retail

550 Highway 7 E #281-283 Price & Sale History

Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.

—ReducedPrice reducedThis listingMLS® N13526180−$400,090 (23.5%)$1,299,900
Jul 6, 2026For saleListedThis listingMLS® N13526180$1,699,990

Sourced from MLS®. Includes earlier listings of this property on record.

What's it worth?

How 550 Highway 7 E #281-283 Compares to the Richmond Hill Market

Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.

Zara’s estimate

Estimated from city-wide sales. There isn’t enough detail on this listing to rate the price.

Value your own home →How accurate are Zara’s estimates?

Summitly estimate, not from TRREB, the MLS® or the listing brokerage. Not an appraisal. How it works

Richmond Hill market, last 90 days

Median sold price: $1,135,000
Average sold price: $1,235,583
Average days on market: 35
Homes sold: 802

Closed sales on the TRREB MLS®.

Full Richmond Hill market report

Market pulse · Richmond Hill

Richmond Hill market

Median sold price$1,135,000Last 90 days
Average days on market35Homes sold in about 35 days on average.
Sale-to-list ratio98.7%On average, homes sold below asking.
Active listings1,180Homes for sale here right now.
Median vs prior 90 days+3.2%Compared with May 4 – Aug 2, 2026: prices up.

Based on 802 sales from Aug 2 – Oct 31, 2026 (608 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.

More in this building

4 for sale · 3 for lease at 550 Highway 7 E.

See all of 550 Highway 7 E

Living in Richmond Hill: Location & Amenities

Transit, schools, parks and everyday places near this home. Select any place to open it on Google Maps.

Transit nearby

Stations and stops, straight-line distance

Langstaff GO StationRichmond Hill GO3.2 km
Richmond Hill GO StationRichmond Hill GO4.8 km

Places from OpenStreetMap (© OpenStreetMap contributors) and Summitly's station list. Distances are straight-line, not routes.

Loading schools, parks, groceries and more nearby…

Transit

Langstaff GO Station (Richmond Hill GO)3.2 km
Richmond Hill GO Station (Richmond Hill GO)4.8 km

Nearest subway, GO and LRT stations first, then bus and streetcar stops.

Langstaff GO Station
3.2 kmClosest· Richmond Hill GO
Homes near Langstaff GO Station
Richmond Hill GO Station
4.8 km· Richmond Hill GO
Homes near Richmond Hill GO Station

Straight-line distances from the listing; walking times assume about 80 m a minute. Places © OpenStreetMap contributors, a community-maintained map that may miss or misplace some places. Directions and place details open on Google Maps.

How long is your commute?

From 550 Highway 7 E #281-283. Typical times without traffic delays; transit times aren't available yet.

Book a tour of 550 Highway 7 E #281-283 with a licensed buyer's agent

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Questions About 550 Highway 7 E #281-283

How much is 550 Highway 7 E #281-283 listed for?

550 Highway 7 E #281-283 is listed at $1,299,900 (MLS® N13526180). Summitly updates the price as soon as the MLS® record changes.

Has the price of 550 Highway 7 E #281-283 changed?

Yes — it was first listed at $1,699,990 and is now $1,299,900, a drop of $400,090 (23.5%).

How many bedrooms and bathrooms does 550 Highway 7 E #281-283 have?

The listing for 550 Highway 7 E #281-283 doesn't publish its bedroom and bathroom count. It is a commercial property in Richmond Hill.

Is 550 Highway 7 E #281-283 close to transit?

The nearest rapid-transit station is Langstaff GO Station (Richmond Hill GO), about 3.2 km in a straight line. Richmond Hill GO Station is about 4.8 km. Distances are straight-line, not walking routes; check the transit agency for routes and schedules.

How does 550 Highway 7 E #281-283 compare with other homes in Richmond Hill?

Its asking price of $1,299,900 is about 15% above the median sold price in Richmond Hill over the last 90 days, $1,135,000, across 802 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.

Has 550 Highway 7 E #281-283 been sold before?

Summitly has no earlier MLS® sale or lease of 550 Highway 7 E #281-283 on record from the last two years. Older records aren't shown under TRREB rules.

Where is 550 Highway 7 E #281-283?

550 Highway 7 E #281-283 is in Richmond Hill, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.

How long has 550 Highway 7 E #281-283 been on the market?

117 days — 550 Highway 7 E #281-283 was listed on July 6, 2026.

What is the lot size of 550 Highway 7 E #281-283?

The lot measures 0.00 × 0.00 Feet, as published in the listing.

What is the land transfer tax on 550 Highway 7 E #281-283?

About $22,473 in Ontario land transfer tax at the asking price of $1,299,900. First-time buyers can get up to $4,000 back. Legal fees and other closing costs are extra.

How do I book a viewing of 550 Highway 7 E #281-283 or make an offer?

Select "Book a viewing" on this page and pick a time. A licensed Coldwell Banker Summit Realty, Brokerage agent confirms it with the listing brokerage. When you're ready, your agent prepares the offer with you and submits it to the listing brokerage.

What is the property tax for 550 Highway 7 E #281-283?

The listing for 550 Highway 7 E #281-283 doesn't publish the annual property tax. The property tax calculator linked at the foot of this page gives an estimate for Richmond Hill.

550 Highway 7 E #281-283, Richmond Hill

What you should know